In the first half of this year, four banks in Latvia have made losses, including the largest losses for the bank Citadel, according to data compiled by the Financial Industry Association.
In the first half of 2020, banks Citadel the loss was € 30.321 million, compared to a year earlier.
They also worked with losses in the first six months of this year Industra Bank, PrivatBank a Expobank.
Industra Bank the loss in the first half of this year was 2.88 million euros, compared to the profit a year earlier, PrivatBank losses amounted to 2.833 million euros, which is four times more than in the first half of 2019, but Expobank losses increased by 22.3%, reaching 674,800 euros.
At the same time, the largest profit in the first half of 2020 was among Latvian banks Swedbank – in the first half of this year Swedbank profit was 44.254 million euros, which is 26.4% less than in the first half of 2019.
Seko SEB bank, whose profit in the first half of this year was 13.582 million euros, which is 43.4% less than in the corresponding period of 2019.
Not shown in the association data Western banks, which is not a member of the association, but, according to the information published by the bank, Western banks profit in the first half of this year was 9.7 million euros, which is 35.8% less than in the first half of 2019, thus ranking according to the amount of profit Western banks in the third position.
Also, the association data show that Rigensis Bank profit in the first half of this year was 3.809 million euros, which is 48.8% more than a year earlier, but LPB Bank profit was 2.466 million euros, a decrease of 20.6%.
At the same time Signet Bank the profit in the first half of this year was 906,700 euros, which is an increase of 5.6 times compared to the first half of last year, Regional investment banks profit was EUR 730 900, a decrease of 2.7 times, BlueOrange Bank profit was 558,100 euros, a drop of 7.7 times, but Baltic International Bank profit was 273,600 euros, which is 7.3% less.
The association is not informed about its member OP Corporate Bank the results of operations of the branch in Latvia, as well as on Luminor Bank Latvian branch results.
In general, the Latvian banking sector in the first half of 2020 operated with a profit of 47.324 million euros, which is 62.8% less than a year earlier.
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